Canada-India Business Council lauds Union Budget
The Canada-India Business Council (C-IBC) has commended the union budget presented by Finance Minister P Chidambaram as "thoughtful", "pragmatic," and a blend of "India Rising" and "India Shining".
By PTI |
TORONTO: The Canada-India Business Council (C-IBC) has commended the union budget presented by Finance Minister P Chidambaram as "thoughtful", "pragmatic," and a blend of "India Rising" and "India Shining".
"This is a peoples budget aimed to take care of the weaker sections of the economy, the farmers, women, children and minorities not to mention the all important middle class that constitutes the backbone of the Indian economy," C-IBC President Kam Rathee said.
The substantial increase in the minimum tax slab for the working class is going to set in motion a spending spree that will ensure Indias GDP growth rate of eight to nine per cent in the year ahead, he said.
The banking transaction tax, which was an irritant for the middle class, has also been withdrawn, the president of C-IBC, an association of Canadian companies doing business in India, said.
Terming separate and special increase in the minimum tax slab for women and seniors as a "unique aspect" of the budget, Rathi urged the western countries to take note of the humane element in the decision.
"This is a peoples budget aimed to take care of the weaker sections of the economy, the farmers, women, children and minorities not to mention the all important middle class that constitutes the backbone of the Indian economy," C-IBC President Kam Rathee said.
The substantial increase in the minimum tax slab for the working class is going to set in motion a spending spree that will ensure Indias GDP growth rate of eight to nine per cent in the year ahead, he said.
The banking transaction tax, which was an irritant for the middle class, has also been withdrawn, the president of C-IBC, an association of Canadian companies doing business in India, said.
Terming separate and special increase in the minimum tax slab for women and seniors as a "unique aspect" of the budget, Rathi urged the western countries to take note of the humane element in the decision.
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